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destroy the aggregate contract basis

HOW TO DEAL WITH AGGREGATION – A BASIC GUIDE

ANY SERVICE CONTRACT WHERE THE TOTAL PRICE IS NOT INDICATED AT THE OUTSET If you want to purchase, for example, some services but the contract doesnt or isnt, set up to establish a total price upfront, the aggregation rules lay down how you must work out the aggregate value. You are not exempt. For public services contracts where a total price is not indicated: If the contract is fixed for

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Aggregate Contracts definition - Law Insider

Aggregate Contracts amounting to PhP2,500,000.00 or more within the Municipality proposed for award to a single supplier.. Notwithstanding the foregoing, it is a condition of this Agreement that in arriving at its Ultimate Nett Loss arising out of any one Loss Occurrence for the purposes of this Agreement, the Reassured will extract from payments under Stop Loss or Aggregate Contracts the ...

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The aggregation rule in public procurement - Mills Reeve ...

The effect of the aggregation rule is that if there are lots of separate contracts for the same type of goods/services/works which in the aggregate exceed the relevant threshold then those individual contracts still need to be advertised even though individually they are below the threshold.

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Aggregation clause explained - Browne Jacobson

23/03/2017  AIG Europe Limited v Woodman (and other Respondents) [2017] UKSC 18 Yesterday, in the case of AIG Europe Limited v Woodman, the Supreme Court gave clarity to the application and interpretation of the MTC wording used for aggregation clauses which allows insurers to aggregate claims on the basis of “a series of related matters or transactions”. ...

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Employer Stop Loss Insurance Considerations

paid basis as shown in the aggregate contract basis of the schedule: a. less the aggregate deductible b. less the amount of the claims paid by the contrac-tholder in excess of the maximum eligible claim expense per person as shown in the schedule; and c. less amounts recovered from other sources; d. multiplied by the aggregate payable percentage. Aggregate benefits are not payable until after ...

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Caps on liability: ensuring that an "aggregate" cap means ...

Clause 30.9 of the contract contained an "additional costs to complete test", i.e. if the total cost to the Employer in completing the Works exceeded the total cost that the Works would have cost if they had been completed by the Contractor (and the contract had not been terminated), the difference would be recoverable by the Employer from the Contractor either by way of set off or as a debt.

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The 2015 Regulations on the aggregation of contracts

23/11/2015  The requirement to aggregate contracts is not a new obligation however has been the subject of much confusion in the past. This blog post will aim to clarify when requirements are to be aggregated for the purpose of calculating the value of a contract and, more importantly, when specific Lots can be exempt from the rules. The current rules simplified. In simple terms the current rules are:

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Employer Stop Loss Insurance Considerations

paid basis as shown in the aggregate contract basis of the schedule: a. less the aggregate deductible b. less the amount of the claims paid by the contrac-tholder in excess of the maximum eligible claim expense per person as shown in the schedule; and c. less amounts recovered from other sources; d. multiplied by the aggregate payable percentage. Aggregate benefits are not payable until after ...

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Caps on liability: ensuring that an "aggregate" cap

Clause 30.9 of the contract contained an "additional costs to complete test", i.e. if the total cost to the Employer in completing the Works exceeded the total cost that the Works would have cost if they had been completed by the Contractor (and the contract had not been terminated), the difference would be recoverable by the Employer from the Contractor either by way of set off or as a debt.

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‘In the aggregate’ vs ‘any one claim’: What’s the ...

24/10/2017  When an insurance policy is arranged on an aggregate basis, this means that the limit of indemnity is the total amount that the insurer will pay out over a policy term (usually one year) for multiple claims. All expenses are paid out of that limit and, once the limit of indemnity has been reached, then your insurance company will not indemnify any future claims for the remainder of the term ...

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NHS England » Directly commissioned services reporting ...

It is the intention that these four data sets will form the basis by which all commissioners (both NHS England and CCGs) will receive their routine contract monitoring from providers from April 2021 onwards. The user guidance document for each of the four contract monitoring data sets provides instructions to providers with regards to their population and submission. Information must be ...

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Statement of Statutory Accounting Principles No. 54 ...

aggregate policy reserve for all contracts be less than the unearned gross premium under such contracts. Additionally, the reserve shall never be less than the expected claims for the period beyond the valuation date represented by the unearned premium reserve, to the extent not provided for elsewhere. 14. Contract or additional reserves on accident and health contracts shall be recorded

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Financial Caps on Liability in Construction Contracts ...

31/10/2013  Parties often set a cap at the level of and on the same basis as the professional indemnity insurance to be maintained under the contract or appointment. Whilst this may be sensible it is worth reiterating that these are separate and distinct clauses. An obligation to maintain a certain level of professional indemnity insurance does not, in itself, act in any way to limit a party’s liability.

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Difference between lump sum and measurement

Difference between lump sum and measurement contracts. Lump sum and measurement are both types construction contracts. Under a lump sum contract, a single ‘lump sum’ price for all the works is agreed before the works begin. It is defined as a fixed price contract, where the contractors agree to execute the work for a stated total sum of money. Lump sum contracts are generally appropriate ...

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Eligible Contract Participant - Definition IB Knowledge

(xi) an individual who has amounts invested on a discretionary basis, the aggregate of which is in excess of— (I) $10,000,000; or (II) $5,000,000 and who enters into the agreement, contract, or transaction in order to manage the risk associated with an asset owned or liability incurred, or reasonably likely to be owned or incurred, by the individual;

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Contract sum - Designing Buildings Wiki

The contract sum is the price agreed with the contractor and entered into the contract.The agreed contract sum should be calculated and checked very carefully as errors are deemed to have been accepted by both parties.. However, the contract sum does not constitute a 'fixed price' even if the contract is described as a fixed price contract, a lump sum contract or a guaranteed maximum price ...

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NHS England » Directly commissioned services reporting ...

It is the intention that these four data sets will form the basis by which all commissioners (both NHS England and CCGs) will receive their routine contract monitoring from providers from April 2021 onwards. The user guidance document for each of the four contract monitoring data sets provides instructions to providers with regards to their population and submission. Information must be ...

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Caps on liability: ensuring that an "aggregate" cap

Clause 30.9 of the contract contained an "additional costs to complete test", i.e. if the total cost to the Employer in completing the Works exceeded the total cost that the Works would have cost if they had been completed by the Contractor (and the contract had not been terminated), the difference would be recoverable by the Employer from the Contractor either by way of set off or as a debt.

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Limitation periods under English law - Pinsent Masons

The Limitation Act allows actions for breach of contract and tort, such as negligence, to be brought within a period of six years under a simple contract and twelve years if the contract is executed as a more formal deed. Under English law, a 'simple' contract is one which is executed with one signature only. A deed is a contract or document executed with higher formalities than a single ...

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Financial Caps on Liability in Construction Contracts ...

31/10/2013  Parties often set a cap at the level of and on the same basis as the professional indemnity insurance to be maintained under the contract or appointment. Whilst this may be sensible it is worth reiterating that these are separate and distinct clauses. An obligation to maintain a certain level of professional indemnity insurance does not, in itself, act in any way to limit a party’s liability.

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Accounting For Loss Making Construction Contracts ...

XYZ LTD estimates stage of completion on the basis of cost. Following information is available in respect of the contract at the end of first year: $ Total Contract Price. 2,000,000. Total Expected Costs. 2,500,000 . Costs incurred to Date. 1,500,000. Amount billed to customer. 900,000. Progress payments received from customer. 700,000. Step 1 – Determine Expected Outcome of the Contract. As ...

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Stop-Loss Insurance 101 Springbuk

Aggregate Stop-Loss: This form of stop-loss provides a ceiling to the amount that an employer would pay in expenses on the entire plan, on an aggregate basis, during a contract period. Under this policy, the insurance carrier reimburses the employer after the end of the contract period for aggregate claims.

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Difference between lump sum and measurement

Difference between lump sum and measurement contracts. Lump sum and measurement are both types construction contracts. Under a lump sum contract, a single ‘lump sum’ price for all the works is agreed before the works begin. It is defined as a fixed price contract, where the contractors agree to execute the work for a stated total sum of money. Lump sum contracts are generally appropriate ...

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Family high cost cases - GOV.UK

Contract (MS Word Document, 123KB ... Where counsel’s fees are calculated on an equivalent basis as FGF and have been requested to supply counsel fees costed using the Family Graduated Fee ...

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Eligible Contract Participant - Definition IB Knowledge

(xi) an individual who has amounts invested on a discretionary basis, the aggregate of which is in excess of— (I) $10,000,000; or (II) $5,000,000 and who enters into the agreement, contract, or transaction in order to manage the risk associated with an asset owned or liability incurred, or reasonably likely to be owned or incurred, by the individual;

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NORSK TOTALKONTRAKT 2015

Norwegian Total Contract 2015 Modification is negotiated as part of this collaboration. Norsk Industri and Norsk Olje og Gass recommend that the standard contract is applied when contracting for the supply of large components for the production of petroleum reserves on the Norwegian continental shelf if the contractor will be responsible for engineering, procurement, construction and ...

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